Private equity firm Cathay Capital has closed its first Cathay Innovation fund with backing from BNP Paribas Cardif, ADP, Artemis, Joyoung, SEB, Michelin, Total and Valeo.
China-based private equity firm Cathay Capital closed the first fund for its venture capital arm Cathay Innovation at $320m today with support from a range of corporate investors.
The fund’s limited partners include BNP Paribas Cardif, financial services firm BNP Paribas’ insurance arm, as well as airport operator ADP, diversified holding group Artemis, appliance makers Joyoung and SEB, tire producer Michelin, oil and gas company Total and auto parts supplier Valeo.
The corporates joined state-owned investment bank French Bpifrance and…
